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is the opposite of what it does. it ends up creating the environment where we have less ability to get ahead, it creates dependency, it plays crony capitalism, which hurts career entrepreneurship and opportunity. all the government and what it says it does, helps the poor, make sure that markets on the right direction, they actually do the opposite. they are short-term oriented to the next election. they have their own agenda. they don't respond to the marketplace the way a business should. they have their own agenda in terms of those special interest groups and the like. the bigger they get from them were hardly due to the economy and the less chance that they have to improve your lot in life, as abraham lincoln put it. >> host: is reality a part of capitalism to smack it is the basis of capitalism. contrary to the hollywood cartoon character of business people rubbing their hands in glee at the misery of others, even if you lust for money, you don't get it unless you provide products or services that somebody else wants. so without us even realizing it, it enhances humanity. you have to cr
on top of a recessionary environment is a toxic mix. >> the ecb saying spanish bank deposits down 1.1% on the month in august, which means they're now the lowest level since april 2008. and we've got a prime minister there who has effectively said to the markets come out and short me because we're not going to go for a bailout unless webo costs go higher. and he's trying to delay aid until after the catalonia elections. and that seems like a pretty thin tight rope to walk. loan i. >> and we'll get the report on just how much money the banks need. it is suspected it will be in the 60 billion plus. but the elections on october 21st, that's rajoy's own province. and then you have the cat lo loaniloa loanian region think they're the richest region giving too much to the others. the rest of the region has seen a dramatic change. during the good times, they had revenue. from the developers, people buying properties, now that's all going and they're left from the legacy. from cat loan i can't to the canaries, you name it, all of these places, they're all struggling.alonia to the canari you
dead bird infected found near city college indicating the virus is in our environment this year. the doctor says it is no reason for any of us to panic there are many who come into contact with the disease who don't become sick. >> only one out of five become ill. more likely to have fever, aches and pains like a flu-like illness and not know that they were infected with west nile virus. only one out of 150 will actually develop severe neurological disease. >> reporter: that severe neurological disease is encephalitis swelling of the brain that can lead to fogginess, confusion that's what they say that san francisco patient is recovering from. those at the highest risk are older than 50 or who have weak or compromised immune systems. best way to protect yourself, be sure you have screens on your windows to keep the mosquitoes out. kira klapper, abc7 news. >>> iran's president thinks he knows the cause of all the world's problems. next, what mahmoud ahmadinejad told u.n. general assembly meeting this morning. and why the u.s. delegation didn't hear a word of it. >>> in the presid
so they have been using their cards a little more. and paying it off. that is the environment we are in. nolast but not least, may deal with paypal, so that will add to their future transactions. for today a great day. ashley: ashley:.i. talking to john mccain about the biggest headwind facing the usa today. liz: can you imagine voting for this interview. wait until you listen come back here what he had to say. not just how we get rid of tax abductions, but all of them except two. but also which industries are mature enough that we should rip the rug out from underneath them and stop giving him all kinds of tax breaks. speaking very candidly with me. i first asked about different kinds of government strategies where government works best with this, here' here is what senator mccain had to say. >> you're picking winners and losers, and obvious in the case of solyndra and many others, we have picked losers. but there are so many technologies that have been developed is gps, the internet, but that is a research and development area handed over from the private sector. that is where
. in an environment that will prick you , eat you. and i thought that is politics. i created two cartoons. one is a liberal. one is a conservative. they have this continuing dialogue, and now there is another character that took over the strip -- it is the darndest strip --kevin, the lost rabbani of the apocalypse. he is now running for president. -- the lost bunny of the apocalypse. he is now running for president. >> i started a comic strip and i got a partner because i did not want to have to drop it. i got the best artist in the business. it is about a young man who graduate from college and then moves back in with his parents, kind of a crowded scenario. he works temporary jobs until he screws up and gets fired or the jokes run out. it has been a terrific success. newspapers are not really buying comic strip snout. if you are in a 60 papers by the end of the year, consider that a home run. we are and a 320 today. we are in 320 today. it is only 3 years old. >> does it get political? >> it gets political. they talk about some things that are political. the husband is a conservative. and hi
. so there is -- it's a very skittish, very fragile environment. >> yeah. obviously, the q2 gdp numbers are old, a little dusty here, but they do not show any acceleration which is what we're trying to find clues to in the back half of the of the year. >> i think what happened is europe had a much bigger effect on business sentiment than many people thought. it's been dampening exports and capital spending which is what the durables reflect. as we moved through the summer and stabilized on europe, normally we might get some acceleration. the problem frou is you have the fiscal cliff and the election. people now have yet another excuse not to do anything. had europe not bled into the summer as long as it did, maybe you'd have gotten that spark in activity. but right now you just don't have it. >> are you taking a lot of solace in what housing's done, what confidence is doing? >> yeah, the housing numbers i think are great. that's one of the reasons the economy hasn't been strong to this point in the cycle. housing is keeping us from really stuttering on growth. we need more in housing, a
of the more mature companies. >> what matters is if you create an environment for people to invest in the united states. the last several administrations i went to washington if intel is going to build this next major manufacturing facility the net present value of the facility in a u.s. compared to a lower corporate tax environment is $ billion. it's a tough sell to be patriotic and have that facility in the u.s. cut the corporate tax rate down to a competitive level. i think technology will continue to advance. the problem is keeping the good ideas in the u.s. and create jobs. >> it can happen in spite of things or you can help or be sort of in the way? >> or you can facilitate for an economy which is growing. what we do with foreign graduate students, taxpayer money pays to educate them to get thai masters and ph.d.s and tech topics and our immigration policy says go home. it's a brilliant philosophy. >> you said the growth in intel will be abroad. whatever the tax policy is, i imagine you have to go abroad on manufacturing and engineering. you want to go to the customer. even i
are taking risks. >> oh, sure, in this environment, i mean, you know, we're watching liquidity like a hawk because there's great sense tomorrow morning it could go the other way, in effect you don't invest as much, you don't take as much risk. >> how would you counter the argument that businesspeople and the wealthy have had their way for the past 2030-years as they've increased their lead in terms of income disparity and gotten richer and richer, and you would have hoped that some of that would have trickled down, if it works you would have hoped the average person would have participated in the good times and haven't and you need a president that is going to come in for the powerless people that aren't able to set policy and pay to go do things and you need someone that will represent them in the future. how was is that pretty damned good? >> yes, sir. >> you can take this. thank you for writing it for me. >> i'll get you a job at "the new york times." the reality is as follows. the whole focus has been on how the quote, one percenters or ten percenters, how the top earners moved ahead o
in this environment. how do you do it when we see the fundamentals are not keeping up with some of this market performance? >> it's a real challenge. the private client was tremendously traumatized by the financial crisis and spooked by technology glitches and continuing scandals in the marketplace. they still don't trust that if they put their money in stocks, bonds, mutual funds, it's going to grow in value over time. we've been encouraging them in as many ways as we can to move out of cash, move out of bonds, which they perceive as safe but have their own risks, into at least a benchmark waiting in equities. the problem is all through this year you've had overhanging uncertainty in the marketplace. first, u.s. economic growth, china, european sovereign debt crisis. those have been replaced right now by, as you've mentioned, fiscal cliff and debt ceiling negotiations. the investor is confused about where to go, but those investors who stayed in cash missed this rally that we've had this year. they shouldn't make that mistake again. >> are you saying don't stay in cash? you want to get on thi
lockheed's f-35 program most at risk. goldman sachs says the current downsizing environment increases the potential for m & a activity. with the clock ticking down to fiscal armageddon, expect defense companies to send out layoffs after the holiday. that's your q-4 channel check for defense. i'm jane wells. >> all right. so let's dig deeper into which defense stocks could feel the biggest impacts if we go off the fiscal cliff. >> joining us is jeremy devaney. do you think we'll see those sequestration cuts in defense next year, $55 billion? >> good afternoon, bill. thanks for having me on. yes, we definitely think the fiscal cliff is coming, especially the sequestration cuts or the budget cuts for the defense department. right now the polarization up on the hill is not allowing for any movement in legislation to resolve that issue. >> all right. so let's talk about sort of breaking this down. first off, when are you expecting the defense companies to alert employees that their jobs will be cut? is that october 1st or november 2nd? what's your end date? >> sure. we're looking at novemb
's get straight to the markets and talk about investing in this environment. gentlemen, good see you. thank you so much for joining us. dan, let me kick this off with you. what do you think happened at end of the day today? seems this market has been trading on some worries last several sessions. yet, we did see some optimism at end of the day. >> absolutely. it's a case of perhaps, you know, still do not fight the fed. what we were watching specifically was apple. you mentioned it. we were looking for support on the stock at around 650. wouldn't you know it, it hit their intraday lows. they don't want to see that stock drop. the interesting thing with that is, you know, apple is a bell weather that's really driving the nasdaq 100, driving a lot of these larger cap benchmarks we follow. if you keep that buoyed, you're going to keep the markets buoyed going forward. >> that's a really good point. i guess, david, for those fund managers who have not owned apple, they're going to be playing catch up fourth quarter so their fund looks better by year end, right? >> it's possible. you have
interest rate environment -- who isn't -- check out big pharma. which companies may be preparing to boost their dividends coming up. >>> as we head out, here's how the five biggest dividends in the dow jones industrial 30. our favorite, intel, up 1.68%. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. like in a special ops mission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. governor of getting it done.
is slowing. a lot of people say, look, what they're really doing is saying even in this environment we're going to make far more money than we have in the previous downturns if we get it at $6 in earnings, which is well below what they think they can earn. we'll still pay the dividend. i come back and say the acquisition, which they made and a lot of people were critical of, is working. that the synergies are working. that the costs taken out in regards to manufacturing, look, the world is slowing but it is not a disaster. that's why caterpillar is not at 885. >> do you lump this with the warnings from intel and fedex. it is a global company looking at a slowing global company. >> there isn't anything specifically i saw in the cat release that was saying we are not getting it right. this caterpillar is ready for a downturn unlike any other caterpillar we have had. a lot of times caterpillar had terrific numbers in the presentation about how low earnings have been in the slowdown. the headlines for this story, i'm sure he's at home saying, that's not what i said. i did not say things we
the ability to cause us taxpayers to have to pay them for the right to protect our environment and our water supply and our climate and human rights and wages and things like that. so this is absolutely outrageous. if we could go back to a system of one person, one vote, and have a real free press that enabled us to communicate and inform each other this would be a wonderful idea. unfortunately we're not there right now, so political parties in my view allow us to work together around the shared agenda. and the green party is really the one political party that is not funded by corporate money, by money that's coming from special interests. so in my way it's a way -- view it's a way for us to work together on our lives, future, education, our health and environment. host: according to the latest fcc records you received a recent installment of about $160,000, part of the matching funds still in place for those candidates who agree to accept matching funds. is that a enough money to spread the green party message? guest: we have a different way of approaching this. the big parties use tv adve
's environment. where we don't have time to wait or money to wait. but technology are proven in regular marketplace whether folks want it. the plug in car concept is something they have not wanted, they have gone to other hybrid types but not this variety. for all underwriting and subsidy, when people 7 out the hybrids, -- search out these hybrids they don't go in this direct, maybe the message for government is stay the hell out. >> i think there are other market forces at play like 2 billion that gas and oil lobby has put in to kill the electric car and cleaner technology in last 10 years. neil: you know it has not hurt prius sales or leaf sales or other vehicles you could argue might have been attacked by government-run interests. they have really done well despite that. >> it took a while. and people had to be comfortable with it there are concerns about electric, companies have not done a good job of educating the public. if we had electric cars on road right now, car companies would lose money, they cost almost nothing in terms of repair. neil: but, gm makes these cars, and ford d
a little risk on in the short term, but european markets underperforming the u.s. >> in this environment, i'm a reluctant supporter of kuwaequi. you look at what we have, where bond yields are, where credit has gone over the course of the last six, eight months, you have to end up saying equities are the best of a band bunch. >> an improvement in the pace of job let claim filings. so just how much momentum is the world's juggernaut economy carrying into the fourth quarter? drew mattes joins us in studio. thanks for coming by. what is your view on the u.s. economy, how much momentum really is there as we look into the fourth quarter and next year? >> you're looking at growth in the fourth quarter probably not going to breach 2%. we're just going to have to learn to live with that. and as much as the job rest claims numbers are good news, we still haven't seen the pick up in hiring. so until we see that, i don't think you can get that much momentum. sdl they 00 a discussion about stall speed. are we headed in to recession or do we expect to slug it out here? >> what we found is the volatility
mass-oriented environments where it's pegboard and they point you to aisle four, go find it yourself. we've done research that shows in certain categories, especially foundation, the consumer shop en masse, she spends more than when she buys in prestige where she buys in the store to the exact match foundation. the value proposition is around service which is why in this market, in north america, very high percentage of the total beauty business that's done in prestige like macy's because of that service proposition and a relatively low, absolute value differential in the price point. >> we continue to see companies go in and have difficulty in china. one company told us last week that western companies are going into china with western views about the chinese consumer and their loyalty and they're finding that that consumer passes them by in different ways. are there lessons you've already figured out on that front? >> we've been doing business in asia for 30, 40 years. and we first started in japan in the early '70s, then expanded into korea and hong kong. we've been in china doing
that sports a yield, exactly the kind of dividend stock you want in this low interest rate environment. it's rallied since the beginning of the year, but lately it's pulled back three points. it could be giving you a good entry point here. first though, before making any decisions let's take a closer look with the chairman and co-ceo of prologis. brand new guest, brand new name. welcome to "mad money." >> nice to meet you. >> first, you just have the biggest building portfolio i've ever seen. it's global, right? just giant. >> it is pretty big and it's pretty good, which is more important, right? >> the reason i asked, normally i like to have real estate investor guys on because they know the tenor of the united states but you have huge exposure. in your most recent conference call you actually talk about -- what it's like in japan, china, brazil, canada. mexico. and these are doing very well. >> they are indeed. we're in 21 countries and with the exception of a few countries in europe, the rest of the world is actually doing pretty well. including some of the places in europe and northern
to environment, it's a clear choice. i'm voter for president obama. >> it's a clear choice. no secret, one day before the first debate, both campaigns are focusing op women voters. especially here in colorado. >> we want to know that america is going to be okay. >> diana is a hair stylist who will soon own her own business. she says she is still not sure who will get her vote. >> i'm still trying to figure it out. i do a lot of research. i read a lot. i want to make sure i pick the best candidate. i don't want to go by hearsay or what everybody else is doing. >> she see dark economic clouds on the horizon. >> people are afraid of losing social security, and benefits. it's hard. it's hard to feel safe right now. >> with me with politics how is the economy looking? how is the economy doing? >> nancy collins out with her dog buttercup says ideally she wants a candidate who shares her family values but says economic issues trump everything else. >> i don't like where we are right now and i don't agree the policies considering them happening here. but we came out of the worst economy. in how many y
our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] you.piano ]nnouncer ] get more access with the citi card. we know you. we know you're not always on top of it. and how could you be? that often you just want... quiet. we know all that life demands from you. and how it's almost impossible for
of the pool's environment. immediately prior to him sustaining the injury, he and two other whales were engaged in normal social behavior. the theme park's orca program has come under fire before. in 2010, a trainer was killed by nakai's father, tilikum after the orca dragged her into the water by her pony tail in front of an audience full of horrified spectators. federal regulators have since banned them from entering the water during a performance with orcas and seaworld says it has improved procedures. >> they swim in endless circles in chemically treated water for dead fish all for the amusement of tourists. it is cruelty from the day they are born until the day they die. >> reporter: seaworld says it treats its animals with the utmost care and in a statement adds, there is no organization in the world more committed to the physical, social and mental welfare of its animals than seaworld. >> we contacted the department of agriculture about peta's complaint. they say an inspector will be send to sea world to check the validity of the claim. >>> now at 5:00, breaking news at this hour
next year. are we in an environment where hyperinflation is a threat? >> i think increased inflation is a threat. i think it's going to continue to pitch the consumer. i'm not sure we're going to have hyperinflation. we have not seen that starts to take affected. lori: thank you. >> thank you. lori: fox business alert. bankamerica says it will pay nearly two and a half billion dollars. the 2009 suit stems from the bank's acquisition of merrill lynch. investment save pfa misled them. bankamerica denies the allegation and said the settlement is to make the lawsuit away. and a half% today on the news. up next, you might think you have a perfect credit score, but does your lender agreed? a new report shows there may be a difference between what you think and what you have. we are looking for you and your money next. ♪ lori: your credit score may not be what it seems. major discrepancy between as ♪ lori: in focus tonight, you and your 40-ton credit score. do you know which one year went to the lender is looking at? it turns up the when you receive as a consumer might not be the same c
to create an international environment that will make progress toward ridding the world definitively of weapons of mass destruction. we are also determined to review all other international instruments to which we are not parties, and to take their corporate decision until a constitution is adopted and parliament elected. -- are appropriate decision until a constitution is adopted and parliament elected. we condemn israel oppose the measures in attempting to judaize the occupied land. it is a violation of humanitarian law. we call on the international community to take its responsibility by taking urgent, strong measures to put an end to israeli aggression, and to assure full protection to palestinians, as well as a radical solution through a settlement, assuring the withdrawal of israel from all occupied lands, and the return of all palestinian refugees to their homes, the establishment of the independent state in accordance with relevant international resolutions. the suffering of the syrian people is unimaginable. the regime in power is requesting the -- is attacking its citizens
on thursday. in an environment when many people were frightened that the food business would take a big hit courtesy of that horrendous drought, both of these companies reported nothing short of phenomenal quarters. both stocks are trading at or near their 52-week highs, but if you want to put a resurgence of the packaged food group, i now think you've got to look elsewhere. you want a stock that hasn't run. even as it's benefiting from the exact same trends as conagra and general mills. why were their quarters so good? what pieces of evidence can we glean from their earnings reports? this is fun for me. it should be fun for you. i want to put fun into this, for heaven's sake. that's how you make more money. first, both general mills and con agra indicated the commodity costs can be moderating. now they've got two major food companies saying it's not as bad as you think. conagra is probably more sensitive to raw costs and they slashed their cost inflation guidance down to 3% and the ceo there had been the most honest about how bad inflation has been for his company. second, a little cue fro
was reading the assessments and understanding the threats he knew that this was a difficult environment to operate in as well. it's a horrible tragedy that took place and something that we hope and pray will never happen again but to make political hay and gain out of it, it really doesn't help support the efforts of our people. >> quickly i have to ask you, were you disappointed in the handling of -- ambassador rice came out with the information she had available at the time, congressman king of new york wanting her to resign, paul ryan said in a new interview he would not go that far. again, a lot of moving parts. were you disappointed in how this at least was handled if there is, in fact, now an opening for political gain or genuine questions here? >> well, i think that the attempt to make political gain out of this came forward before any facts were known. it's clear this is a strategy that's being pur sisued by the romney team and unfortunately they're continuing to look for more reasons to make an argument that president obama's foreign policy, which is hands down much more popula
, it's 9/11, it's americans in a hostile environment, and on our territory, a consulate in libya, yet they went out with the youtube and they stuck with it for so many days. you know, even without the ability of intelligence, i would have at least couched it differently. >> well, you're quite right. they made a terrible mistake. i think what they did was, you know, hope springs eternal. they wanted it to be the youtube and they -- it was much more convenient from the administration's standpoint to have it be the film that nobody's seen. and yet it demonstrated such serious misjudgments on their part to think that they could make it be the youtube, which it wasn't obviously, as time's gone by, and i quite agree with you, that anyone looking at it, knowing the history of september 11th, would at least have registered that that could very well have been part of an organized attack, which apparently now people in the administration have acknowledged, that it was a planned attack. >> greta: is 3is there a conseqe of a misjudgment, or is it something we all chatter about it among ourselves?
. >> sure. >> so as you look forward, how do you invest in an environment that looks like we're going to have easy money for a long time? you've kind of changed the typical asset allocation most people go to. >> oh, yeah, it's a crazy world. at oppenheimer we're talking about the new 60/40. people's portfolios are perfectly positioned for the past. they're positioned for 2008. we're still seeing 30 billion a quarter flowing into core bond funds, which are yielding negative in real terms, below inflation. that's madness from our point of view. investors have to understand that the notion of what is safe and what is risky has to be adjusted a little bit. safe doesn't mean securities that have a lot of interest rate risk and no yield. that is not what safety means to us today. again, given the plentiful liquidity and what we think is a moderate global recovery, we think it's safe to move out into more credit-oriented investments, more higher income investments. >> high yield corporate? >> high yield continues to look good in our view. it's come that lot but far from how tight it can get.
luncheon, do you jobs, they say? then i say, are you holding back on hiring because of the environment? they say absolutely. these young people are being denied. over 53% can't find a job even with a bachelor's degree. >> brian: you want to ask us a question? >> yes. the question i want to ask you, if you look at the unemployment rate for the 16 to 24-year-olds, what is the unemployment rate for that group, which includes the college students versus the national unemployment rate? >> gretchen: i'm going to say c. >> steve: 11, 14 or 16. i'll go with gretch, the bigger number. >> brian: i'll go b. >> you're absolutely right. the unemployment rate for young people 16 to 24 is twice that of the so-called national average of 8.1%. that is a startling number. >> steve: how about another question? >> then the other question is: if you were to consider the four years that most college students spent to graduate this year, 2012, how much did the national debt increase while they were studying for four years? >> gretchen: 2.2 trail, 4.6 trillion. i'm going for c again. >> let me tell you, you a
a good speech at the clinton forum which was a hostile environment to come to. i think he kind of got back on the campaign trail. i agree the week was very close, but i would give romney a little bit of an edge this week. gregg: did you see "the politico" story today? they make the following point, romney might be a very good and competent president, but he's a lousy candidate and campaigner. is there something to that? >> well, there is. you know, he needs to get back to being a salesman. he has made this whole campaign about obama is so bad that the country's going to look for an acceptable alternative. the strategy of the obama team is to make him an unacceptable alternative. i think he's done more to make himself an acceptable alternative. and i think the next three, four weeks he's got to basically sell what it is he's going to do with this country. gregg: can we switch around and say the same about president obama, not a good president, but a terrific campaigner? >> well, it's both. i happen to think least a better president, but that doesn't matter, most of the american people
. i think that's really the answer to jobs, because in a zero corporate tax rate environment if the private sector doesn't create tens of millions of jobs, i don't know what it's going to take to create tens of millions of jobs. it's the answer when it comes to exports bleeding out all existing federal tax out of all goods and services. it's the answer to china. i see manufacturing jobs flocking back to the united states given a zero corporate tax rate environment. are you hearing these things from these other two guys? no, not even remotely close. they're arguing over who's going to spend more money on medicare. romney says he wants to balance the federal budget, but that he wants to increase spending for the military. well, it doesn't add up. and if we want to believe in the things that these guys are saying, then i guess we belief in the easter bunny and santa claus and by extension the tooth fairy and, steve, i don't think thai coming. >> host: gary johnson is with us, and want to remind viewers we'll a add a fourth line this morning for third-party voters, 202-585-3883 i
's a dangerous environment, number one for israel, but also for the united states of america, and we keep talking about the arab spring. this is not an arab spring, this is an upheaval in the middle east that we are not taking seriously enough. the threats are huge. alisyn: did these israeli officials and middle east government officials tell you what they plan to do about iran's nuclear threat? >> well, i think -- we didn't get into that detail. obviously they are looking for america to provide the leadership in the middle east that we've provided in the past. their assessment is that america has stepped back, this void has been create, this void is now being filled by radical elements in each of these countries and is making the middle east a very threatening area both a threat to israel and to the west, and to the united states of america. alisyn: i read in your statement when you just returned that what they told you was they want america to be america again. what would that look like? >> well what it would be like, rather than apologizing for a video that is producer in some obscure corner o
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south and east, that we could have created an environment where we could leave and have them capable of carrying out their continued counterinsurgency missions. the fact is, al qaeda is on the rise throughout the middle east. the fact is that they believe that we are weak. they believe we are withdrawing. i talk to these leaders all over the middle east. and this is part of that scenario. look at what's happened in iraq. over 4,000 young americans, and we now have al qaeda on the comeback. anyway, go ahead, willie. >> history is what it is, senator. i think a lot of us wish we weren't in afghanistan anymore, that we hadn't lost 2,000 lives. >> but there was a way out. it's not as if it was an impossible situation. almost all of us agree there was a way that we could have succ d succeeded. >> fair enough, but we are where we are. so what would you do today? why would another year, five years, ten years change afghanistan? >> i would make a decision as to whether we had a significant number of troops listening to my military leadership to remain there to carry out an environment where
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it in this environment. i'd like to see us do whatever we're going to do -- >> the world's gotten a lot more dang ruerous in the last month. >> it is but we're coming out two of wars thate expen expensive, so i think you have to play with the whole deck of cards. in the long run we ought to change our tax system dramatically. i don't think we can do that in the short run. in the long run i'd love to see us go to encouraging savings and investment, some type of consumption tax at the income tax level. >> is anyone going into politics with a full deck of cards? >> well, increasingly no. >> marty, i want to just speak to one issue which is globalization in the whole tax debate during the commercial break, joe and i were talking about revenues, percentage of gdp and given the economic uncertainty and the economic headwinds we've had over the past three or four years but how much, when you think about the little revenue that we're bringing or a lot less revenue we're bringing in, how much of that is a function of just straight up the economy and how much of that is globalization? >> oh, it's not globalization
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